Alloha Fibra posts net profit in 2024, strengthens its market position

By Alloha Fibra

This press release was published in English using an automatic translation system.

São Paulo, March 18, 2025 – Alloha Fibra (Giga Mais Fibra Telecomunicações SA), the fourth largest company in Brazil in terms of subscribers and fiber optic extension, ended 2024 with solid results and optimistic prospects for 2025. The operator recorded an annual net profit of R$44.9 million, reversing a loss of R$2.1 million in 2023. Net operating revenue in 2024 was R$1.7 billion, an increase of 4% compared to the previous year.

With a base of 1.7 million customers, the Company recorded adjusted EBITDA of R$806 million in 2024, already considering the consolidated result of the acquisitions, a growth of 15.9% compared to 2023. The accumulated EBITDA margin in the period reached 46.6%, an increase of more than three percentage points compared to the previous year, driven by the synergies captured in the integration process.

The company ended the year with approximately R$1 billion in cash and financial investments, maintaining a leverage multiple (net debt/EBITDA) of 2.8x, reflecting its financial solidity and discipline in capital management.

According to data from the National Telecommunications Agency (Anatel), Alloha expanded its customer base by 7.5% in 2024, with the addition of 117 thousand new contracts compared to the previous year. In the same period, the fixed broadband market in Brazil grew by 7.4%.

The largest independent fiber optic provider in the market, the company, commercially recognized by the Giga+ brand, has completed the reorganization phase after integrating more than 20 companies acquired since 2018. “We are very pleased with the consistent results. In 2024, we faced significant challenges, including the integration of nine brands, with their cultures, systems and teams. It was a complex process, led with excellence by our team, making the company stronger, more efficient and agile to take advantage of new opportunities”, says Lorival Luz, CEO of Alloha Fibra.

As part of its growth strategy, Alloha issued R$800 million in debentures last year, with a payment term of up to 10 years. The acquisition was a milestone in the ISP sector, reinforcing market confidence. Another highlight was obtaining credit lines worth R$466 million, mainly from the National Bank for Economic and Social Development (BNDES).

“We have put our house in order to further accelerate Alloha’s sustainable growth strategy. We have reinforced cash and liquidity, the result of financial discipline and consistent growth. We have also raised the level of corporate governance, and today we have attractive margins, greater operational efficiency and a strong culture,” highlights the executive.

Structured to expand its customer base and strengthen its national presence, the Company invested R$432.8 million in infrastructure throughout the year. This investment boosted the expansion of access networks and the acquisition of equipment to improve the quality of internet services, while maintaining competitive prices.

In addition, the company opened a new Network Operation Center (NOC) in the metropolitan region of São Paulo, improving the unified management of network monitoring and operating systems, increasing operational efficiency.

The strengthening of corporate culture was another strong point, with the implementation of the Alloha Way of Being. Advances in this agenda resulted in the achievement of the GPTW (Great Place to Work) certification, which highlights the Company's ongoing commitment to a respectful, trusting and welcoming environment for its 4,400 employees, who are directly responsible for the company's success in 2024. “We will continue to prospect for new growth opportunities, through organic expansion, acquisitions or synergies with other players in the sector. Our goal is to democratize access to the internet and generate value for the Company, its customers, the market and its shareholders”, concludes Lorival Luz.

About Alloha Fibra

Alloha Fibra is the fourth largest company in terms of number of subscribers and fiber optic extension in the country and the largest independent player in this segment. Operating throughout Brazil, it is present in 864 Brazilian cities in 22 states, bringing together 1.7 million B2B and B2C customers. The story of Alloha Fibra began in 2018, as a promising project that became a complete connectivity ecosystem for people and companies. The Giga+ brand is sold in two verticals: Giga+ Fiber, for the consumer market, and Giga+ Companies, aimed at the B2B market. The Company's purpose is to connect ideas, people and businesses, contributing to digital and social inclusion.